I know it, you know it and BoA knows it.
A 3% merit increase and a 10-15% bonus still leaves you way under paid as inflation eats away your $.
So as you sit there thinking about the fact that once again you’ve been duped, short-changed and tricked into thinking what they gave you will make any difference in your life, you’re wrong as increased taxes will eat up your increase.
Who do you think pays for all the injustices going on in the world?
YOU, that’s who.
Not happy? Quit! You're probably just taking space anyway. Too many employees, too many people around, it's hard to do our work and the work of the useless people around. At least if you leave the company has more spare money, we will have the same amount of work. Just leave.
Get real. 30%??? No company is giving 30% and a 35% bonus. You people are miserable and unrealistic. I get it, raises su-ked, so did bonuses, but 30%?? You will never be happy.
Boa would be better without visa holders dragging the company down
BTW, the up arrows could be a laughter like what a joke as supposed to be lending support to your argument. @4oam+1qSZqfoW
i think this thread going off track...
moderators please jump in...
Foreign immigrants is what keeps this country running.
And what I don't understand is that the USA gov't can help Ukraine and Israel with Billions to fight a war, but they can't just as much to help the elderly, the homeless, and kids in need. What a shame.
@1kbx+1qSZqfoW Americans are getting d-mb and d-mber each day. That's why the education standards have been lowered and now even SAT are not required to get into some colleges. This is why foreign H1B visas are issued to the educated and this is why outsourcing is also done. Tell me, how many kids can do a multiplication problem without a calculator. Not many, but any foreign immigrant student can do it. They will laugh at you just for asking them to do such a simple calculation. And an American student will give you a tantrum or curse at you for asking them to do a math problem.
“No raise by 40% bonus” isn’t even grammatical correct. I have no idea what it means. 40% bonus of salary is definitely B2 or B3 (and I’m guessing those folks know how to write and aren’t on this site).
40% of my salary is my bonus.
@1oar+1qSZqfoW - do you mean 40% of your salary equivalent was your bonus?
Or 40% increase from last year?
Or you got 40% of last year's bonus?
??????
No raise by 40% bonus. I'm happy.
@1kbx+1qSZqfoW - right there with you. I am scared for our educational system if this is what it's cranking out.
When I started, there was so much of the discussions that went right over my head, so I went to business school at night, just so I could learn and understand better. Before I even finished, I was hired away to another bank as an MBA at 2x (TWO times!) my then salary.
Nowadays, so much is available online - for FREE. Gosh, what I'd have given for that in the mid-90s..
Most people don’t know how to read an earnings statement. Most people can’t explain complex financial terms like an inverted yield curve. Most people can’t even calculate percentages without a calculator. Most people at the bank aren’t financially savvy.
I get that people want a better life, but not everyone is entitled to get a 35% raise. I spend half my day at work doubling as a third grade teacher, explaining basic concepts like the difference between they’re, their, and there.
I encourage everyone to watch the movie Idiocracy.
Who gets 10-15% bonuses? Never even hit 5% as a B5.
Wait... Someone besides B0-B3 got a 10-15% on bonus working at BofA ?
B4 - E/M and got around 7%.
Disagree. For some, it puts them in a tier where they have to pay higher health insurance premiums or no longer can take advantage of childcare benefits offered by the bank.
If everyone raised salaries 35% we’d have Uber inflation and we’d have the same complaints. This is just a vent vs any sound thinking.
There is no circumstance in which this is possible. You're misinformed. Its MARGINAL tax rate. A higher bonus results in higher overall take home pay, period, no exceptions from the TAX perspective.
There is only one circumstance in which this is true -- that is if the cost of benefits goes up greater than the compensation increase. This is rare.
Have a nice day.
So in principal, I agree.
Do me a favor though. Go pull up the earnings statement for Q3 2023.
Look at the payroll expense.
Add 35%.
Now tell me how much the bottom line profit is.
I am not defending them, I am saying that it is basically impossible to keep the company going and give people this type of raise. The company would shut down. It would not be profitable to run.
Perhaps what you mean is "executives should be paid a much lower multiple of lower wage workers in the company, so that the available cash is spread more evenly."
Again, just go do the numbers. Its all public information.
Sad thing is many receive just enough bonus to put them in a bad tax bracket, where the bonus may seem okay, but they are now in a higher tax bracket and wind up being worse off.
It’s a conspiracy, I tell ya.